Umoe's Long Term Strategy for Schat-Harding

The proposed merger of Umoe Schat-Harding and TTS Marine ASA has been cancelled.

PLANS by the Norwegian group Umoe Industri to merge its lifeboat and davit subsidiary Umoe Schat-Harding with Bergen based equipment manufacturer TTS Marine ASA have been cancelled. Umoe has called off the proposed all-share merger following a significant change in the shareholder profile of TTS.

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